By Samuel Indyk
Investing.com – At 07:41GMT, FTSE 100 futures are trading higher by 0.4% at 7370.
In FX markets, GBP/USD is trading at 1.3203, EUR/GBP is trading at 0.8574. The US Dollar Index is up 0.2%.
Today’s calendar highlights include US jobless claims and wholesale inventories.
Coronavirus
UK Prime Minister Johnson announced new restrictions, recommending people work from home. The new rules also mean masks will become mandatory in most public places and COVID passes will be required for some venues including nightclubs, indoor unseated venues and unseated outdoor venues.
Stocks
Rolls-Royce (LON:RR) - Gradual recovery in international flying combined with market recovery in Power Systems and resilience in Defence has driven improvement in trading. Restructuring programme delivering sustainable cost savings more quickly than initially anticipated. Returned to positive free cash flow in the third quarter. As a result of both the improved trading and the concession timing, free cash outflow in 2021 is expected to be better than the £2 billion previously guided.
DS Smith (LON:SMDS) - H1 revenue up 22% aat o=constant currency to £3.362 billion. Adjusted operating profit up 26% to £276 million. Interim dividend increased 20% to 4.8 pence per share. Positive outlook for continued growth over remainder of the financial year. Strong pricing mitigating significant input cost pressures.
Frasers Group (LON:FRAS) - H1 revenue up 23.6% o £2.340 billion. Reported profit before tac up 75.3% to £186.0 million. Believe the Group can achieve an adjusted profit before tax of between £300-£350 million for the period ended 24 April 2022 on the proviso there are no substantial lockdowns imposed in the UK, particularly over the important Christmas period.
B&M European Value Retail (LON:BMEB) - Declared special dividend of 25.0 pence per share, to be paid on 14th January to shareholders on the register on 17th December.
AstraZeneca (LON:AZN) - Evusheld (formerly AZD7442) long-acting antibody combination granted emergency use authorisation by the US FDA for pre-exposure prophylaxis (prevention) of COVID-19.
Hikma Pharmaceuticals (LON:HIK) - Entered into an exclusive license agreement with Gedeon Richter to commercialise Richter's denosumab, comprising two biosimilar products referencing Prolia® and Xgeva®, in the United States.
ITV (LON:ITV) - Expect ITV studios revenue to recover to 2019 levels next year, thereafter grow by at least 5% on average per annum to 2026. Margin over the medium term will be 13 to 15%.
Dr. Martens (LON:DOCS) - H1 revenue up 24% on constant currency basis to £369.9 million. Adjusted profit before tax up 37% to £61.3 million. Declared inaugural interim dividend of 1.22 pence per share. Remain confident in achieving market expectations for FY22.
Watches Of Switzerland (LON:WOSG) - H1 group revenue up 44.6% to £586.2 million. Adjusted EBITDA up 58.8% to £82.8 million. Q3 trading to date supports full year guidance upgraded on 9 November 2021.
Firstgroup (LON:FGP) - H1 revenue £3.110 billion. Adjusted operating profit £173.7 million. First Bus passenger volume recovery ongoing; 71% of equivalent 2019 levels on average in recent weeks. No change to management expectations for First Bus adjusted operating profit. No change to management's expectations for FY22.
Moonpig (LON:MOONM) - H1 revenue down 8.5% to £142.6 million, up 115.2% on same period two years ago. Adjusted profit down 43.2% to £18.7 million, up 99.7% on two tears ago. Group annual revenue for FY22 is now expected to be at the upper end of the previous guidance range of between approximately £270-£285 million.
Balfour Beatty (LON:BALF) - Year-end order book is expected to be around £15.5 billion. Full year revenue is expected to be approximately double the half year revenue. Continues to expect that the earnings-based businesses (Construction Services and Support Services) will deliver underlying profit from operations for 2021 in line with 2019. 2022 share buyback will be at least £100 million.
Avast (LON:AVST) - To acquire Evernym, financial terms not disclosed.
Convatec - Frank Schulkes will step down as Chief Financial Officer and as a Director of the Company on 11 March 2022. Jonny Mason has been appointed as Group Chief Financial Officer (Designate) with effect from 31 January 2022.
Future PLC (LON:FUTR) - Launches responsibility strategy, outlining ESG ambitions.
Harbour Energy (LON:HBR) - Production of 215k boepd in October / November; full year forecast of 175k boepd, in line with guidance. Introduction of a dividend policy of $200 million annually to be paid in two equal instalments, starting with a final dividend of $100 million for 2021 to be paid in May 2022. 2022 production guidance of 195-210k boepd, with the midpoint representing an increase of 16% vs 2021.
Volution (LON:FAN) - Group revenues for the four months to 30th November 2021 were £104.0 million, 14.6% ahead of the equivalent period in the prior year.
Made.Com (LON:MADE) - Confirms 2021 gross sales growth guidance of +40% year-on-year to circa £440 million. Due to increased disruptions, MADE now anticipates a greater proportion of revenue to be delayed to early 2022. Sees 2021 revenue of £365-£375 million, previously saw £410 million. Consequently, there will be a timing implication on adjusted EBITDA associated with delayed revenue recognition.
Vertu Motors (LON:VTU) - Profitability in October and November 2021 continued to be delivered in excess of its business plan and also prior year levels. Now anticipates that the Group's adjusted profit before tax for the year ending 28 February 2022 will be no less than £70 million (previously not less than £65 million).